HDFC Bank's HDB Financial Services Gears Up for Highly Anticipated IPO
HDFC Bank's non-banking financing arm, HDB Financial Services, is poised to embark on its much-awaited initial public offering (IPO) journey, awaiting the final nod from its parent company. HDB Financial Services' Core Focus and Performance HDB Financial Services' core focus areas include vehicle loans, loans against property, and personal loans. The company has diversified its product base, expanding into consumer durable financing, gold loans, digital product loans, and related segments. Despite the RBI's directive to increase risk weights on unsecured loans, HDB Financial remains confident due to its diversified loan portfolio. Less than a quarter of its loan book needs to be secured. Patwardhan stated, "We have been very selective in how we do lending. Meeting customers, understanding cash flows, and having local sets of knowledge coupled with bureau information and a large digital stack allow us to look through a lot of information." After facing challe...